product intervention powers

Policy & Regulation

US and UK-style restrictions unnecessary for MISs

Proposals to place US or UK-style restrictions on products in the Australian managed investment schemes would be “radical” when ASIC already has significant product inter...

Financial planning

AFCA supports ASIC product invention on continuing credit contracts

AFCA has welcomed ASIC’s assessment that continuing credit contracts cause consumer detriment and that the regulator’s product intervention powers should be utilised....

Policy & Regulation

Companies can expect to be named by ASIC on product intervention

Informing consumers will sit at the heart of the Australian Securities and Investments Commission’s use of its new product intervention powers....

Funds management

Saxo Group welcomes ASIC product intervention powers

Saxo Capital Markets has welcomed ASIC product intervention powers and reinforced the importance of responsible leverage....

Policy & Regulation

ASIC gets product intervention power

In a last legislative act by the current Parliament, the Australian Securities and Investments Commission has been handed its product intervention powers....

Policy & Regulation

ASIC will not ignore ‘lawful’ behaviour

The Australian Securities and Investments Commission has declared that just because behaviour is lawful does not make it an excuse where consumer detriment is concerned....

Policy & Regulation

Lawyers argue against post-sale product intervention

The Law Council of Australia has urged the Government that it needs to amend proposed new financial product design and distribution laws to exclude intervention in produc...

Financial planning

Advice carve-outs undermine RC findings, says ISA

Industry Super Australia has accused the Government of caving into the retail banks and the wealth management sector in allowing ‘carve-outs’ from the design and distribu...

Policy & Regulation

Will bank staff be mistaken for advisers?

The Australian Baking Association has warned that new Design and Distribution laws may result in bank staff being mistaken for advisers....

Life/Risk

Will Bill place advisers in conflict with insurers?

A key Senate Committee has been told that the Government’s new Design and Distribution Obligations and Product Intervention powers risk putting advisers in conflict with ...

Policy & Regulation

ASIC wants product sales training powers

The Australian Securities and Investments Commission is arguing that giving it product sales training intervention powers may reduce the need for it to take extreme actio...